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Question
When was general insurance business nationalised?
Options:
A .  1970
B .  1971
C .  1972
D .  1973
Answer: Option D


The nationalization of general insurance business from 1 Jan 1973, was the effect of the General Insurance Business (Nationalisation) Act. 107 insurers were grouped into four companies: National Insurance Company, the New India Assurance Company, the Oriental Insurance Company and the United India Insurance Company.



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